To amend the Securities Exchange Act of 1934 to prohibit Members of Congress from receiving a discounted price in certain private offerings of securities.
End Congressional Stock Market Abuse Act of 2017
This bill amends the Securities Exchange Act of 1934 to prohibit Members of Congress from: (1) receiving a discounted purchase price or a premium sales price in a securities transaction, or (2) purchasing a nonpublic offering of a covered security available on a U.S. or foreign exchange.
This prohibition shall not apply if the Member of Congress reasonably believes that the discount or premium was obtained in a manner generally available to the public.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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